Recur Club Partners With Faad Network To Allocate Up To Rs 50 Crore

Updated on: 17 February 2023 11:05 pm

Cloud-Native Architecture Software Company, Infurnia Raises $1 Million Photo: This fresh round of funding takes the total angel investment raised by the company to $2.5 million. Earlier last year, the brand raised a total of $800,000 in investments

Recur Club joins hands with Faad Network to allocate up to Rs 50 crore in non-dilutive growth capital for Faad Network Portfolio Companies. The collaboration aims to create a pool of investors that will nurture start-ups and hand-hold them throughout the journey. Given the funding winter affecting venture capitalist investors, Recur Club’s alternative financing model is said to be a unique opportunity for start-ups.

Recur Club and Faad Network will target investing in about 100 start-ups by the end of 2024.

“Despite the global economic conditions, our unique approach to financing will continue to be in high demand. Our collaboration with Faad Network, which is a bridge between growing start-ups and investors, will allow us to support a diverse array of start-ups. We look forward to continuing to help startups navigate the current economic climate and support their growth together.” said Eklavya Gupta, founder and co-CEO (chief executive officer) at Recur Club.

“At Faad Network, we have established ourselves as a premier facilitator of connections between burgeoning start-ups and investors. Our partnership with Recur Club allows us to expand our reach and support a diverse array of start-ups, particularly those in the subscription and recurring revenue space. We eagerly anticipate the potential outcomes of this collaboration,” added Aditya Arora, CEO at Faad Network.

Follow our WhatsApp channel

Faad Network is a Securities and Exchange Board of India (SEBI) registered category 1 fund with a corpus of Rs 300 crore. Founded in 2015 by Dr Dinesh Singh and Karan Verma, Faad has invested over Rs 75 crore in over 65 start-ups across tech sectors. Its portfolio includes start-ups like Blu Smart, Battery Smart, Hesa, WCube, Cleardekho, Huviair and Beyond Snacks. The average cheque size is usually $50,000 to $1 million.

Recur Club currently works with companies that have predictable annual revenue from existing customers of at least $100,000, greater than one year of vintage, and more than three months of runway.